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Us 25, China 18, U.s. 13, Israel 7, Michigan 7, Liz 7, John 6, Florida 6, Chicago 5, Aig 4, United States 4, S&p 3, Mazda 3, Mexico 3, New York 3, Gm 3, Charlie 3, Vera Bradley 2, John Brady 2, Barron 2,
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  FOX Business    FOX Business After the Bell    News/Business. Stock  
   market updates. New.  

    September 10, 2012
    4:00 - 4:59pm EDT  

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liz: i just wanted to pause for the bells on wall street on this monday. let's take a look and see how stocks finished up. you know what? all this came in about the last hour, although we had a much bigger point swing earlier today, looking at the s&p 500 down about eight points at 1429, the nasdaq can getting crushed -- getting crushed more heartily, down one full percentage point but still above the 3100 level and then the russell 2000 down a third of a percent. david: well, we're kicking off a critical week with major actions planned by the federal reserve and the european central bank. we have top money managers to tell you how to position your portfolio ahead of that critical federal reserve meeting on thursday. liz: plus, we are going to introduce you to the ceo of a company that is ditching china to make its products, where? in the u.s., ladies and gentlemen. even though it's more expensive
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to do so. he's going to tell us why coming up. david: but first, we're going to tell you what drove the markets with today's data download. stocks ending the session in the red. it was a volatile day that saw the dow cross the unchanged line 49 different times. technology and financials were the worst performing sectors, telecom was the only sector that did manage to end higher. crude is up today in the choppy trading as new action from the federal reserve outweigh pressure from weak chinese data. oil rose 12 cents to setting at $96.54 a barrel, but it did trade below that after hours. and consumer credit declined in july for the first time in 11 months as americans turned to their credit cards less and growth in student loans cooled a bit too. consumer credit fell at an annual rate of 1.5% to $2.71 trillion. liz: we have got john brady in the pits of the cme, also charlie cautiously bullish on
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the market, but investors should be in all stocks right now because, he says, that's where the money is. david: let's start with john at the cme, john brady can. first of all, let's talk about the fed meeting, its effect on gold, down day after day of hitting new highs. i assume that's because people are paring back their feelings of exactly how far the fed is willing to go. >> that's exactly right. given the runup in commodity prices over the last two weeks, especially last friday, i do think there's been some position squaring ahead of wednesday, thursday. you know, as much as the market's leaning towards additional stimulus from the federal reserve, the market's not quite sure what format it will take. will it be qualitative or quantitative, mostly in the mortgage market or the treasury market? so there's a little bit of the unknown in here. then again, of course, on wednesday you have the important dutch elections as well as the german constitutional court ruling, so there is some room for interpretation here, and there's been a paring back in
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some positions today, i think you're right. liz: but, john, i'm just wondering if the behavior that we will see from people in the next 48 to 72 hours will be simply that they park their money and wait til thursday for that fed announcement? >> well, liz, i think you will see a little bit of that. but to sort of address the question to gold and commodities, you know, five-year forward break-even inflationing rates are currently running just over 2%. the fed will be adding accommodations to the monetary system at a level where forward inflation indicators are already pretty high historically. so for gold, silver, crude oil and for many of the food commodities, that probably means additional upside gains. in the short term, position squaring. don't read too much into it as an investor, but longer term i think commodities may be about to enter a super cycle. liz: what does the futures market there think the fed is likely to do, john? >> well, the futures market, the
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thing the futures market done the last two weeks is extended the term by which the fed will keep overnight rates between 0 and 25%. you know, the market's anticipating the fed will extend their language lower for longer well into 2015. so we've seen interest rate futures, specifically the 2014-2015 level, really start to price closer to two and three-year notes with lower than otherwise yields with the idea the fed's going to be lower for longer. david: john, we'll see you more in just a couple of minutes. liz: let's get to our market experts, aerial investments' director of research along with ralph, senior managing director. ralph, to you first because, again, we saw some bullish moves over the past year, in fact, s&p hitting multiyear highs last week alone. so with that in mind, do you feel that maybe the time is now to take some profits, or should
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people still remain all in stocks? does that make you a little nervous? >> full disclosure on my part, liz, i'm very, very bullish. liz: okay. [laughter] >> and we had, we started the summer rally in june right on time, and it extended well through july, august, into september. there's nothing wrong with the summer rally. in fact, i'm always encouraged to listen to a lot of negatives because people don't realize that the dow is less than 7% away from an all-time new high. and people are still negative. that combination makes me extremely bullish. david: well, charlie, you're not negative, but you were -- you're a little more cautious, i think it's fair to say, than the last time you were here, isn't that right? >> yeah, that's right. we're value investors, and we actually take the opposite side of what we were just talking about, when things go up a lot, we get a little more cautious, not more optimistic. and the stock market has run a long way. it's run about 25% since a year
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ago. a year ago stocks were extremely cheap, and we were pounding the table. today i'd call them fairly valued to slightly cheap. so we'd be cautiously optimistic. liz: well, that's a good point, ralph. i mean, things have -- pe ratios have gotten a little richer. now you start to see 13s and 15s and 17s, and it makes -- >> yeah, but -- liz: oh, go ahead. >> you're not talking about excessive numbers. and what about you get a multiple expansion. as this thing starts to go, i'm telling you, this -- the action of the sectors in the last couple of weeks, you're getting technology coming to the fore, of course you have health care, just in the last couple of weeks you had the financial stocks, and, liz, if you could look at charts the way i do, they're just starting to move. liz: what's the number one thing you look at, ralph, when you look at the chart of a stock? >> well, as i mentioned before, the summer rally? well, that began in june, but you had may, june and july. that's a three, almost four-month what we call in the
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trade a bottoming poortd, a base-building period. that sets the stage for a very, very handsome upside move, and those moves have not been completed yet. i'm talking at least another 10-15% across the board. david: charlie, if i were a little more cautious, i would probably be more cautious about financials, but you say, no. in fact, two of your picks that you brought to us are financial, state street and northern trust. why do you think the financials will do well even as you move into a more cautious period? >> well, they are one part of the market that is still cheap. i mean, you have stocks like state street, northern trust that really have gone nowhere for four years. people have not bid up the stocks because they don't tend to do well when interest rates are very low. they can't make any money off of their customer cash positions. so long term those are very good businesses that aren't going to do well in the short run because of interest rates, but longer term there is still good value there. liz: ralph, are you one of these
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crazy people who are crazy for dividend, or is there something more attractive like, for example, cash flow i think you love to look at. >> will well, no, the high dave lend. that's, again, probably one of the main reasons why the large cap stocks have done so well and continue to do well. so, um, there's a lot of attractive things out there. i think too many of us are just deer in the headlights when it comes to all this news, especially now. oh, this is terrible, it's the month of september and october. we're going to have a terrible time. um, i think the market today's just back off, waiting for the fed this week. and i think it's going to be very, very accommodating. liz: charlie ask and ralph, great to have you both on. thank you so much for joining us. david: and we have some breaking news with robert gray on zynga. go ahead. >> reporter: yeah, shares under a little pressure here. a shakeup still continuing at the beleaguered social game maker. their chief marketing and revenue officer has resigned, that's jeff carp, this is according to a filing with the
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securities and exchange commission. zynga saying carp are continue to be employed -- will continue to be employed by the company in a nonofficer capacity, he'll provide transition services through september the 22nd. jeff carp, the chief marketing and revenue officer, has resigned at zynga. you see the shares down 3% in regular trading down a couple pennies more in after hours. david: just a couple pennies. actually, it's kind of an insult when the stock isn't affected by moving on. zynga's holding up pretty well. well, new signs of a housing recovery are beginning to emerge, but does this mean the rental market is going to be taking a big hit? the president of rent social giving us his take from the real estate front lines. liz: plus, we've got the ceo of a company that is choosing to make his products here in the u.s. over china even though it's more expensive to do it here. he will explain why he's doing it coming up. david: also, amazon reversing course on its controversial ad
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plan for the kindle fire. i'm sure you've seen that ad, they're all over the place. they've changed those ads in a certain way. we have the details ahead on "after the bell." [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin.
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david: shares of barrett bradley getting a boost today. liz: let's head back to nicole on the floor of the new york stock exchange. >> reporter: it's a name, and i always like to look at the products, this one is from one of our producers here on the floor, but this is what they make. they make accessories and happened bags and such. why are we talking about vera bradly today? the stock traded in the $2 range. this is because sec capital, the big hedge fund, they have a huge investment in vera bradley. as of june 30th, and this came from reuters, from another business site, but they went from 189,000 shares back in june, you know how many shares they own now? how about more than 2.3 million shares. so, certainly, a huge
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investment, a 5.8% stake in this company that has less than a billion market cap. but they did come out with their latest numbers. the earnings were a little disappointing, but revenue was growing. so an interesting day for vera bradley and certainly one to watch. david deafd thank you very much, nicole. liz: s&p futures closing right now, let's go back to john brady at the cme group. john? >> liz, a little bit of a softer close. very, very light and, again, i think you're seeing more profit taking and position hedging more than anything else. on the overnight, the data calendar's rather light from china, there is whisper about deteriorating situations within the chinese capital counts, but i think we'll continue to wait for wednesday and thursday, events in europe as well as the federal reserve on thursday. david: good stuff. thanks, john. liz: thanks, john. looking for investment opportunity in israel? well, officials and business
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leaders from both the u.s. and israel are attending a special conference in new york today. david: adam shapiro is at that forum with the ceo of the tel aviv stock exchange. >> reporter: that's right. this is a woman who is no stranger to liz claman or you, david. joining us live to talk about not only her tenure in charge of the tel aviv stock exchange, but where they go in the future. thank you for joining us on fox business. very quickly, performance this year up 4%, but you were telling me you could have done better. >> well, i believe we could have done better in terms of the index going up and also in terms of volume. but on the other hand, when we look backward, we did great since the crisis in 2008, and we did great since we were promoted to developed market. so probably time to keep up, but going down be on the same level of those changes. >> reporter: i was reading a previous interview about a year ago in which the discussion was
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about partnering with other exchanges worldwide. is it more difficult foryou being in a neighborhood that does have hostile neighbors as well as business connections that right now may make it difficult to partner? is that something that's coming in the future? >> well, actually, it's not, there is no difference today than what it was before. we are still talking with exchanges about partnerships. i believe that's the right way of doing things. kind of alliance, not mergers, but trying to find the best places in which we can cooperate, and i never thought even for a minute that the -- [inaudible] and it shouldn't. look what we have achieved in 64 years. it has nothing to do -- or maybe it has something to do with the situation in the middle east, but we did great. >> reporter: well, let's talk about what you've achieved. you have a background in computers, working with the israeli security service years ago then going into the private
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sector and then helping the exchange become fully automated. how important is it to have a fully-automated exchange in this day and age? >> i think if we wouldn't have done it, that would have been the end of the stock exchange. there is no way for us to reach out to the world, to adopt foreign investors to israel and stay on the front line of changes. so that's -- [inaudible] i'm really glad that we realize it before the -- [inaudible] even before the u.s. became automated. so at the time we were one of the first, not one of the last exchanges to do so. and probably the combination of my background and israel being so innovative really helped. >> reporter: and as i wrap up with you, there are americans who are over the age of 30 who think of israel as this kind of socialist nation. it has transformed itself in ways that are truly remarkable. going forward, there's an
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entrepreneurial spirit in israel, what do you think that's going to mean as these start-ups get listed on the tel aviv stock exchange? >> well, i think for every company that will come, public company, there will be 100 new start-ups and entrepreneurial. so it's in our blood, it's part of the environment. we believe we can tell everyone how, what is the right way of doing things and go on forever having new start-ups and then having the companies as well. >> reporter: we appreciate you joining us on the fox business network. these interviews we've had, liz and david, are being posted to foxbusiness.com, so you can hear more of what these people have had to say. but really the theme here is, i think, best exemplified by the finance minister who said, look, israelis don't take no for an answer because they have no choice. they have to move forward, they have to succeed given not only the political situation, but the
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fact that they have no choice but to succeed. back to you. david: some of the most incredible investment opportunities in the world in the israel right now. adam, thank you very much. liz: cisco, intel, apple starting a plant there. it's great. big stuff there. david: well, the government announcing it is going to sell a big chunk of its remaining aig shares. it'll still be a big stockholder, but not a majority one. with just weeks to go before the election, some are questioning the motives behind the move. liz macdonald with that story. liz: plus, toys r us isn't playing around, the company is getting into the tablet business for kids. we've got the details next. [ male announcer ] wouldn't it be nice if there was an easier,
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liz: time for a quick speed read of some of the day's other headlines. checking the scorecard, david's in the lead 2-1, but i feel like making it even. david: do it. liz: up first, microsoft opening 32 stores for the holiday season, the new shops are part of the big retail push for its surface tablet and windows 8. toys r us launching a tablet design for kids available in stores october 21st for $149.99. amazon switching its ad policy allowing users of its new kindle fire tablet to pay $15 to turn off built-in advertisements. the tablet comes with ads known as special offers appearing on the home screen. following record sales of the chevy volt, a new report says general motors is losing up to $49,000 on each volt it sells, but gm denies that report saying the estimate of the current loss
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per unit for each volt told is grossly incorrect. the meat dress lady gaga wore to the mtv music awards is now on display in washington d.c. e hope they put in some tenderizer on it. that's today's speed read. david: ooh, enough time to throw in a little ad ad lib. liz: that's gross. david: disgusting. well, for the paris time since 2008 -- first time since 2008, taxpayers will not be owning a majority of aig. liz: the u.s. treasury is selling $1 billion in shares of -- $18 billion in shares. >> reporter: this is the biggest block of shares that treasury is unloading, potentially driving the treasury's stake down towards 15% if the stock continues to improve above 33, remember, the break even is between 28 and 29. so now the debate is, why now? we have an election going on, and i'll tell you something, it's not so much to be able to
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show a profit on aig because treasury is still going to have more than five billion in aig stock, they could still lose money on aig going forward. the federal reserve could make 12 billion, but it's more about putting distance between aig and the white house because this was the biggest, most controversial bailout to date. remember, it almost led to that owners' bonus tax. remember, aig gave out bonuses? is it had record quarterly losses, all the subprime negatives from the housing crisis attached to it. here's jay carney on this, the white house spokesman. he was asked that. he said we have been committed to exiting those investments as quickly as practical. it's safe to say the president is pleased with the progress being made. fox business has been in touch with the treasury department. they are telling fox business: we decide, not the white house. the white house is not involved here, we decide. and it's based on whether or not we can get a good stock price and price for it because, basically, you have to unload 871 million shares still, that could flood the market and depress the stock lower.
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but the irony here and the back story is the federal reserve is going to be aig's regulator, so they could be able to possibly stress test aig going forward or stop, you know, stock repurchases or dividends. so that's the back story. by the way, overall on t.a.r.p., $200 billion still owed on the t.a.r.p. rescue plan, that's the number you've got to keep in your hip pocket. whether we make money, i don't think we're going to make money on fannie and freddie, we're going to be in that for the next decade, we could lose on that. liz: but aig up over 340%, so that's a -- 40%, so that's a nice profit there. >> nearly still 900 million shares, and fannie and freddie still owe $142 billion, gm, $27 billion, allied financial, 15 billion. those are the numbers you want to keep in mind. david: the next trick will be to turn off the stock falling of gm. >> less than half of where it
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needs to be. liz: will a housing recovery send the rental market into a tail spin? we've got the ceo of a company called rent social to tell us why the rental market should not be written off. david: also, chicago teachers on strike, this is the first time in 25 years. we are live on the scene with the latest details. and tell us what you think about that teacher strike in chicago. is it a plus or minus? could the president come in to resolve the situation? log on to facebook.com/afterthebell, click the like button and let us know what you think. [ engine revving ]
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sectors while telecom did outperform. u.s. consumer credit shrank for the first time in nearly a year to $2.7 trillion. it was driven by a large drop in revolving credit. includes credit card debt. this could reflect growing uncertainty about shoppers in the future making them less unwilling to finance big-ticket items. copper is the big winner in the commodities pit rose 1.2% to settle at the highest settle since may. liz? liz: 18% of homeowners are still underwater on their homes. david: key battleground states nevada and florida were among the hardest hit. peter barnes is in d.c. peter, both the president and mitt romney are using this news on the campaign trail, right? >> not as much. and actually hasn't been a whole lot of noise about all of this but it is, it is an issue to some voters. there are, as you said, 18%
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of homeowners. these are ones still making timely payment who are not delinquent. they're underwater with their homes, homes worth less than the outstanding balance on their homes. that is nearly 10 million homeowners in this election year. the issue matters to some homeowners. the problem is especially bad in several key battleground states according to lender processing service. in nevada, 55% are underwater. in florida, 33%. in michigan it is 30%. >> we know as that negative equity amount increases we see new problem loans entering the system at a larger, at a larger pace. >> but, as i said it is a little hard to tell how all this is playing out in the election. nationally a "gallup poll" in may found 74% of the voters ranked home values, mortgages as extremely important economic issues but voters split about evenly which candidate could
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tack kel housing problems better. in florida, friday, romney launched new ads against the president on falling home values there. >> here in florida we're not better off under president obama. home values collapsed. home construction jobs lost. high rate of foreclosure. >> but get this. a "new york times" poll in august found that just 22% of florida voters considered housing and foreclosure issues extremely important to their votes. dead last, of seven issues polled. david and liz. liz: wow. david: that is surprising. right in the thick of it and don't think it is that important? >> okay, guys. liz: on that same vein a report out today from fannie mae shows that increasing optimism for the u.s. housing market is getting in. you saw the cover of "barron's" saying housing prizes would be moving higher. would a revival in home prices hurt the growing rental market which has been
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on fire? we have the president of rent social.com. you've got your finger on the pulse of the renting situation. a lot of people looked at a very vibrant renting atmosphere right now. if housing has started to bottom, if you believe that and you look at some of the housing stocks are starting to look a lot better, eric, what does that mean? is it sort of reaction versus reaction and you will see a negative effect on renters? >> i definitely do not see a negative effect on renters. i see the apartment market, rental market will be very strong. we're bullish in the rental market up until 2015. many foxtores continue on that --. demographics are on our side with gen-y renters. finally lending environment very difficult to get a home these days. liz: that is a great point a lot of people don't talk about. very tough to get a loan even though banks were supposed to be lending money. rental mark is very strong,
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are we seeing a bubble or formation of a renting bubble? >> that's a great question. a bubble implies it could pop. i would say the rental market i definitely do not see a pop in the future at all. goes back to demographics. the rental market definitely for the gy, 18 to 27. if you're a gen-y person moving into a home you better have the 20%. i doubt somebody at 25 has $60,000 laying around to buy a home. liz: rents are not cheap. as the psychology change as little bit, maybe people are starting to look at owning a little home maybe has been foreclosed upon or at least is cheap right now, they think, boy, if it is going to move higher, say, to, "barron's" says, maybe i should get in. that then not give a different perception what the american dream is at this point? >> you nailed it on the head. goes back to the psyche and
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going back to exactly what you mentioned the american dream, i think the american dream has see involved a little bit. if you step back at american dream of two-car garage and white picket fence why can't the american dream be i want a fitness center or dog walk on the roof. i want access to transportation. liz: there you go. talking about these all-service buildings. i was going to say the great american dream is two-car garage and half a dog. they say 2.5 kids. >> absolutely. got to have the half. liz: talk about where you see strength. which regions of the u.s. when it comes to renting, by the way, people are looking at what you and what you're saying as an investing opportunity. there are a lot of real estate investment trusts that invest in rental properties but where do you see the strength? >> absolutely. what we're seeing through our tools, rent sentinel and rent social, seeing new york city, more urban environments where people have access to transportation. also more importantly, access to jobs. new york city i mentioned.
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washington, d.c. los angeles as well. those markets command higher rents. living in new york city you seeing that every day. i heard you mention about some of the political messages. florida, definitely a weaker market. michigan, some of those are absolutely weaker markets as well. liz: rent social.com president and coo eric brat tan. thank you very much. people will call you and find me a cheaper apartment. >> come to rent social we'll find it for you. david: i'm sure he gets that all the time. must get a lot of people living at home with their parents wanting to go back to rentals. i'm sure he will be busy. for the first time in 25 years teachers are on strike in chicago, third largest school district. liz: bringing jobs back home. one company tells us why he decided to get out of china and make products here in the u.s. even though it is more costly, david.
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david: why? liz: tell you why coming up. hmm, it says here that cheerios helps lower cholesterol
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open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. >> i'm robert gray with your fox business brief. it was a down day for wall street as investors appear to be in a wait-and-see mode ahead of the federal reserve policy meeting later this week. a manhattan federal judge has refused to dismiss the reach of contract -- breach of the contract lawsuit against the bank of new york mellon in its connection with the collapse of lehman brothers. securities lending clients allege more than a billion dollars of losses related to the bank's invests of their cash collateral. the u.s. district judge did not dismiss the case he dismissed some of the other claims in the lawsuit. japan airlines is raising $8.5 billion in its initial public offering. it marks the world's second biggest ipo this year after facebook. japan expected to make the debut on the tokyo stock exchange on december 19th.
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geico. fifteen minutes could save you fifteen percent or more on car insurance. david: wheat trade in japan showing exports from china inching up last month and exports shrinking. for one u.s. company moving manufacturing out of china, at least beginning to do so back to the u.s. was an easy decision and may have been excellent timing. joining us ken ames, ceo and cofounder. we always love when people come back to the united states. so far you have just begun the process. talk about you do and why you chose china as a place to do it. you do led lighting. how long were you in china and why did you choose to go there originally? >> well, first of all, thanks for having me, dave, liz. we chose to go to china, we first opened in 2007 in
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china. we did a lot of engineering stuff over there because the costs were obviously a lot cheaper. and really what we concentrated on in 2000 was expanding there quite a bit. since, since 2009 we've really, we've really looked at our costs and even though it is a lot cheaper for to us manufacture products in china we've done the proper social thing about bringing businesses back to the u.s.. david: so tell us, first of all exactly how much of a loss, i mean, essentially you are going to be paying more by higher labor costs, will you not, coming into the united states? >> yeah, we're paying more but you know, there is field expenses too have that gone up which makes china knot appealing to us and also the air shipments. and the led space everything is very right away. so we're bringing back a lot
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of, we're airshipping almost everything that we're sending. so really, the cost differential for us is about 3% difference to manufacture here. david: that's not a lot. >> three to six right now. david: that is not a lot. i have talked to other companies who have done this. they say when you add in all the shipping costs and add in the corruption, face it, we've got to face it part of doing business in china and quality control, a lot of companies were complaining about the quality control, what the shippers say they were sending from china wasn't always there and wasn't always intact, correct? >> no. that is absolutely, from everything from buying components. you don't know if you're buying, same components from time to time. the qc process over there is very difficult compared to the u.s. along with many other things. when we're designing new products they're going out the back door as fast there as we're putting them out here. david: now are you the exception that makings the
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rule or are you seeing a lot of other companies do the same? >> no. i think, i don't want to say we're the exception. i think a lot of people are forced to do the same thing. you know, the difficult part is for new high-tech companies, to get the support from the u.s. government, usually when you're you're a start up, or age three or less it is very difficult to get help from the government until you reach a certain size where we can really say, okay, we need to bring more jobs. how can you help with grants and whatever else is available. david: now you have, you have moved, what about, 20, 30% so far back from china. are you going 100%? are you leaving china entirely and bringing it all back home? >> yeah, a great question. no, we won't be able to leave china 100% but we will try to bring over the next 18 months to 24 months about 80% of our manufacturing here. we're working with several states. the state of connecticut.
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we talked to chicago. it is that difficult stage of financing, financing the moves. it seems like a lot of companies here are more interested in, you know, stealing a company from boston to move to connecticut versus starting from the ground and walking look, we'll create 50 jobs this year and 100 next year and three00 the year after. it is that low transition where they get the instantaneous growth of moving from one state to another. david: right. chicago could certainly use all the help it can get right now. ken ames, good to see you. best of luck. we've run out of time. let us know how it works out. seesmart technology ceo and co-founder. ken, good to see you. liz: like the way he thinks. forgo current pleasure for future gain. david: ford is revving up production here in the u.s. as well. we'll take you live to michigan. liz: internet surfers beware when searching one of these actresses, there is a high chance you will land on a malicious site.
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we'll tell you the most dangerous cyber celebrity of the year when we go off the desk on "after the bell."
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liz: it's ford to the rescue. after mazda was forced to stop production of cars at a plant in michigan, ford swept in, said we'll take full control of the facility and they added 1200 jobs and save ad whole bunch of others along the way. david: jeff flock is live at the ford, flat rock assembly plant in michigan. jeff? >> i have an exclusive inside the plant. this was a mazda line. now it is a mustang line. it will soon be a fusion line. look at this one, guys. that is intended for sale to mexico. soon ford will be making cars, mustangs it will sell in europe. liz, as you know this is part of their plans to revitalize their european operation. this is what they the mustang gts look like all the rest. they have been selling a
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fusion so well they need to expand production from mexico here to flat rock. they took over the plant that mazda couldn't use anymore. a real winner. i talked to the governor of michigan earlier about this. you know, rick snyder, you guys know him. is not your conventional partisan governor. he is a republican but some people call him a r.i.n.o. republican in name only. democrats don't like him either. in my experience if nobody likes you you're probably doing something right. >> citizens in michigan who he define as my customers are fed up with negativity. they want to create more and better jobs today and tomorrow. that is why it is exciting to be here at ford's flat rock assembly plant. this is great opportunity. 12 one jobs are coming here. >> 1200 jobs and 1800 saved. his attitude is like a business. he runs the state like a business. he doesn't care whether you're republican or democrat. he wants people to get along. he points out, guys, by the way, this car, it is 2 3m pg
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on that one. 24 thou. that is six cylinder. this is going to my old hometown. going to causeway ford and lincoln in new jersey right where i grew up. it is a nice looking car. people get along at this plant. uaw and ford. that's what governor snyder says it is all about. seems to be working here. they just added 1200 jobs. david: ford is bringing not only are these cars originally going to be sold in mexico coming here but a lot of the jobs, because a lot of production facilities are moving to the united states as well. ford is showing you can do it better here at home. >> he saw your last segment talking to the guy, making stuff in china. i tell you can make stuff here as profitably. they wouldn't be expanding production here if they didn't think they could do it profitably. the stock is showing that today. the stock is up today. i think we finally found a bottom in auto stocks. david: year-to-date, at
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least trying to make its way back up. thank you jeff flock. we appreciate you being here. >> if you are fighting over who gets quarterback aaron rogers on your fantasy football team it could be costing your company lots of money. we'll take you "off the desk" with the details. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair
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may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. i've been a superintendent for 30 some years at many
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different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank.
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david: time for "off the desk" action. fantasy football is fun but comes wits with a price. challenger, gray & christmas came out with a new study. they say fantasy football costs companies $6.5 billion a year, pro -- because of procrastination time spent managing team at your desk. there are 22 million employed fantasy football players do the stuff at their desk. liz: epic waste of time. also "off the desk", the most dangerous person to search for online, her. "harry potter" actress, emma watson. they lure users to downloading malware or exposing personal information. this is the 6th time mcafee conducted the study. last year it was the gorgeous woman on your screen. heidi klum. david: i could see that.
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liz: i'm heading out west to silicon valley for our annual "3 days in the valley". fifth anniversary all exclusive. we have such a lineup. david: for example? liz: intel ceo paul otellini live from the developer conference at the moss connie center. we have tim wester began and talking about apple and what competition is may provide in the face of very tough business. ceo and space ex-cofounder, elon mfk. david: mr. tesla. liz: other big names. we do the startups. clout. sony computer entertainment. jack trenton. but the silicon valley superstars at the top including david, meg whitman of hewlett-packard. they just announced more job cuts. it will be her first interview with us and with anybody since their numbers just came out for q3. a lot to ta a